Rise and Shine: What you need to know before the ASX opens
Coming up on Stockhead today, the super-fibre worth nearly $1 million a kilo, companies cashing in by turning trash into treasure, and how a tiny ASX gaming company convinced Formula 1 to jump in bed.
But first, here’s what you need to know right now:
The Reserve Bank of Australia’s assistant governor Christopher Kent is delivering a speech today, but there is little else in the way of economic data today.
Just Visioneering Technologies (ASX:VTI) with eight million shares out of escrow today. You can see Stockhead‘s wrap of companies releasing escrowed shares here.
There are 10 companies which may come out of trading halts today. Hooo boy.
Several of them have moved into voluntary suspension, which a company undertakes when it is unable to release information to the market within the 48-hour window that a trading halt provides.
It will be very interesting to see the result of Emerge’s capital raise, as the company has been extremely active of late. Last week it announced a tie-up with fellow mobile gamer iCandy (ASX:ICI), which followed its tie-up with cloud gaming platform GameCloud to make a video game streaming platform it hopes will be recognised as the ‘Netflix of gaming’. (It must have been bummed then that the significantly-more-resourced Google announced the same thing a week later).
Gold: $USD1319.27 ($1,846.71) -0.37%
Silver: $USD15.45 -0.61%
Oil (Brent): $USD68.03 +1.18%
Oil (WTI): $USD60.07 +1.97%
Coal: $USD88.68 +0.52%
Iron ore 62% fe: $USD85.82 -0.08%
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It was yet another gaming stock that was generating interest on the Stockhead Facebook chat forum yesterday, with news Animoca Brands (ASX:AB1) had somehow convinced the world’s richest motorsport brand Formula 1 to co-create a blockchain-based F1 game. Co-founder Yat Siu had a chat with Stockhead yesterday about that deal.
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Tuesday:
— HotCopper (@HotCopper) March 26, 2019
Arc Exploration (ASX:ARX) was the day’s biggest winner, rising 48 per cent to 19c after it announced on Monday that it had acquired an advanced stage copper project.
The company has acquired in full Cyprium, which is involved in a copper project in the Murchison region of Western Australia.
And though it’s a little out of the small cap market, there were big waves around the country when $38 billion Wesfarmers (ASX:WES), owner of massive Australian brands Coles, Kmart, Target, Officeworks and Bunnings, lobbed a $1.5 billion offer for midcap rare earths miner Lynas Corp (ASX:LYC).
Lynas shares rose 35 per cent to $2.10.
Skin Elements (ASX:SKN) had an absolute rollercoaster of a day. Its shares jumped nearly 40 per cent to 6c in early trade after announcing a big Chinese distribution deal.
The moisturiser company announced a deal with Chinese distributor Henan Huatuo Health Management (HHHM), through which HHHM will order $20m over the next three years starting June 30.
But by close of trade, its shares had fallen 23 per cent on Monday’s close of 4.3c, to finish at 3.3c.
That was due to some less exciting news also released to the ASX yesterday: it had to answer ASX price and accounting queries it received two weeks ago. Read Nick Sundich’s wrap of that here.
That’s all you need to know. Go go go!